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Hong Kong Securities and Futures Commission: Risks of Fraud Increase After Stablecoin Regulations Take Effect, Investors Advised to Remain Rational
Summary: According to reports from China Finance, the Hong Kong 'Stablecoin Regulations' took effect on August 1 and began accepting applications for stablecoin issuers' licenses. Ye Zhiheng, Executive Director of Intermediaries at the Hong Kong Securities and Futures Commission, stated that after the regulations came into effect, the market responded enthusiastically, but the risk of fraud ...
According to reports from China Finance, the Hong Kong 'Stablecoin Regulations' took effect on August 1 and began accepting applications for stablecoin issuers' licenses. Ye Zhiheng, Executive Director of Intermediaries at the Hong Kong Securities and Futures Commission, stated that after the regulations came into effect, the market responded enthusiastically, but the risk of fraud also increased. He urged investors to remain rational and avoid making irrational investment decisions due to market speculation or price trends. Ye Zhiheng pointed out that in recent times, some companies saw a sharp increase in stock prices simply by applying for or claiming to plan to apply for stablecoin licenses. He reminded investors to maintain a 'rational line.' The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority recently issued a joint statement, expressing concern over market fluctuations related to stablecoins and urging the public to invest cautiously.
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Link: Hong Kong Securities and Futures Commission: Risks of Fraud Increase After Stablecoin Regulations Take Effect, Investors Advised to Remain Rational [Copy]
